Frontier Communications Parent Target of Unusually Large Options Trading (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 11,253 put options on the stock. This represents an increase of 492% compared to the typical daily volume of 1,902 put options.

Analyst Upgrades and Downgrades

FYBR has been the subject of several analyst reports. Bank of America assumed coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective for the company. TD Cowen reduced their price target on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group raised their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group assumed coverage on shares of Frontier Communications Parent in a research note on Thursday, July 18th. They set a “buy” rating and a $33.00 target price on the stock. Finally, Citigroup increased their price target on Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Frontier Communications Parent Trading Up 8.1 %

Frontier Communications Parent stock traded up $2.11 during trading hours on Tuesday, hitting $28.14. The company had a trading volume of 1,483,786 shares, compared to its average volume of 1,548,329. The firm has a market cap of $6.99 billion, a P/E ratio of 254.27 and a beta of 1.08. The company has a 50-day moving average price of $26.39 and a two-hundred day moving average price of $24.85. Frontier Communications Parent has a 1 year low of $13.66 and a 1 year high of $29.47. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Communications Parent will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its holdings in shares of Frontier Communications Parent by 120.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. GAMMA Investing LLC acquired a new position in Frontier Communications Parent during the 4th quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent in the second quarter worth $37,000. Neo Ivy Capital Management acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at $49,000. Finally, Cape Investment Advisory Inc. purchased a new position in Frontier Communications Parent in the 4th quarter worth $52,000.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.